First County Bank CT Has $291,000 Stake in Amcor plc (NYSE:AMCR)

First County Bank CT decreased its position in shares of Amcor plc (NYSE:AMCR) by 20.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,000 shares of the company’s stock after selling 7,632 shares during the quarter. First County Bank CT’s holdings in Amcor were worth $291,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its holdings in Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after buying an additional 2,660 shares during the period. Quarry LP lifted its holdings in Amcor by 2,064.5% during the 4th quarter. Quarry LP now owns 3,723 shares of the company’s stock worth $35,000 after buying an additional 3,551 shares during the period. Huntington National Bank lifted its holdings in Amcor by 52.4% during the 4th quarter. Huntington National Bank now owns 4,426 shares of the company’s stock worth $42,000 after buying an additional 1,522 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Amcor during the 4th quarter worth about $44,000. Finally, Menard Financial Group LLC acquired a new position in Amcor during the 4th quarter worth about $46,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on AMCR. Truist Financial cut their target price on Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Raymond James initiated coverage on Amcor in a report on Tuesday, April 22nd. They set a “market perform” rating on the stock. Finally, Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.31.

Amcor Stock Up 0.3%

Shares of NYSE:AMCR opened at $9.11 on Friday. The company has a market capitalization of $13.17 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 1.96 and a beta of 0.78. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The business’s 50-day moving average is $9.29 and its 200-day moving average is $9.69. Amcor plc has a 1 year low of $8.37 and a 1 year high of $11.48.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the previous year, the business earned $0.13 EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. Equities research analysts predict that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd will be given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 5.60%. The ex-dividend date is Thursday, May 22nd. Amcor’s payout ratio is 91.07%.

Amcor Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.